Global Rear Axle Market to Reach US$67.4 Billion by 2030
The global market for Rear Axle estimated at US$50.1 Billion in the year 2023, is expected to reach US$67.4 Billion by 2030, growing at a CAGR of 4.3% over the analysis period 2023-2030. Drive Axle, one of the segments analyzed in the report, is expected to record a 4.2% CAGR and reach US$32.7 Billion by the end of the analysis period. Growth in the Dead Axle segment is estimated at 4.6% CAGR over the analysis period.
The U.S. Market is Estimated at US$14.2 Billion While China is Forecast to Grow at 6.8% CAGR
The Rear Axle market in the U.S. is estimated at US$14.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.6 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.7% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook